> 
> I need tools to cut out rusted metal and grind off rust.
> What can people recommend?
> 
> I plan on using this with my electric power drill.  Should
> I invest in a compressor and all that or will my drill work
> fine?

I would recommend spending some money and getting a 4 1/2 angle 
grinder.  Sears has a pretty good one for ~$50.00.  You can't 
beat it for removing rust, chopping out old metal, and even 
heavy duty sanding.  I bought mine last year when I was replacing
panels (all around the bottom) on my 77 Westfalia.  It's been 
the best power tool I have ever bought, other than my coffee
maker!  It also comes in handy for muffler work or any other place
you are likely to have rusty bolts and such.  Finally, it's much
easier to control than a drill with a grinding wheel, and you can
get a much wider range of abrasivity when selecting wheels for it.

--phil
Philip Stephenson
University of Wisconsin Engine Research Center